Revenue: As of FY2026 Q2, the actual value is USD 307.9 M, beating the estimate of USD 306.76 M.

EPS: As of FY2026 Q2, the actual value is USD -11.27.

EBIT: As of FY2026 Q2, the actual value is USD -162.4 M.

Second Quarter 2026 Financial Results for Starz Entertainment Corp.

Revenue

• Total revenue was $307.9 million for the quarter ended June 30, 2026, and $614.8 million for the six months ended June 30, 2026.
• OTT revenue was $221.3 million for the quarter and $432.4 million for the six months.
• Linear and other revenue was $86.6 million for the quarter and $182.4 million for the six months.

Operational Metrics

• Operating loss was - $175.5 million for the quarter ended June 30, 2026, largely due to a non-recurring restructuring charge.
• Adjusted OIBDA was $59.9 million for the quarter ended June 30, 2026.
• Net loss was - $189.4 million for the quarter and - $354.3 million for the six months ended June 30, 2026.
• Net loss from continuing operations was - $189.4 million for the quarter and - $354.3 million for the six months.
• Total expenses were $483.4 million for the quarter.
• Adjusted OIBDA Leverage Ratio was 2.9x for the trailing twelve months ended June 30, 2026.
• Total Adjusted OIBDA for the trailing twelve-month period ended June 30, 2026, was $195.2 million.

Cash Flow

• Net cash used in operating activities was - $28.2 million for the quarter ended June 30, 2026.
• Unlevered Free Cash Flow was - $14.7 million for the quarter ended June 30, 2026.
• Equity Free Cash Flow was - $33.4 million for the quarter ended June 30, 2026.
• Net cash flows provided by operating activities were $45.0 million for the six months ended June 30, 2026.
• Net cash flows used in investing activities were - $8.5 million for the six months ended June 30, 2026.
• Net cash flows used in financing activities were - $12.6 million for the six months ended June 30, 2026.

Balance Sheet Metrics (as of June 30, 2026)

• Cash and cash equivalents totaled $59.6 million.
• Total debt was $625.1 million, including a $300.0 million Term Loan A credit facility and $325.1 million in senior unsecured notes.
• Net debt was $565.5 million.
• The company’s $150.0 million revolving credit facility remained fully undrawn.
• Total assets were $1,671.8 million.
• Total liabilities were $1,375.9 million.
• Total equity was $295.9 million.

2026 Outlook

Starz Entertainment Corp. increased its 2026 outlook for Adjusted OIBDA to mid-single-digit growth and for Unlevered Free Cash Flow to the mid-to-upper end of the $80 million to $120 million range. The company reaffirms its outlook for positive year-over-year OTT revenue growth and an Adjusted OIBDA Leverage Ratio of approximately 2.7x by year-end 2026. Furthermore, it expects an Adjusted OIBDA Margin of 20% for the second half of 2027.